Tim Van Hauwermeiren, argenx CEO: ‘Everyone Can Innovate’

Summary

Tim Van Hauwermeiren, CEO of Argenx, shares his entrepreneurial journey from humble beginnings in consumer goods to co-founding a pioneering biotech company focused on autoimmune diseases. The company's breakthrough approach in developing fully human antibodies has been transformative, overcoming early struggles like near bankruptcy and securing crucial funding. Tim emphasizes the importance of innovation, teamwork, and data-driven decisions in biotech. He discusses how Argenx's efforts are making a significant impact on patients with rare autoimmune diseases and the importance of continuing to innovate and challenge traditional drug development paradigms.

Takeaways

• 😀 The line between success and failure in biotech is razor thin, often influenced by luck and perseverance.
• 😀 Autoimmune diseases arise when the immune system mistakenly attacks the body's own tissues, affecting approximately 4% of the global population.
• 😀 Argenx, founded in 2008 by Tim Van Hauwermeiren and his co-founders, focuses on addressing the source of autoimmunity rather than just treating symptoms.
• 😀 Tim's entrepreneurial journey began in the consumer goods industry, where he sought to work closely with entrepreneurs and innovators.
• 😀 The spark for founding Argenx came from a shared vision among the co-founders to break into the fully human antibody space.
• 😀 In the early days, Argenx had no pipeline or funding, but the team believed in their collective ability to create something impactful.
• 😀 Initially, Argenx served as a service provider to other companies, validating their technology with Eli Lilly before transitioning into developing their own molecules.
• 😀 The key to creating shareholder value in biotech is to hold on to successful drug candidates as long as possible and take them through to product launch.
• 😀 Tim emphasizes the importance of surrounding oneself with a personal advisory board made up of experienced individuals who can provide honest feedback and guidance.
• 😀 Argenx faced multiple near-death experiences, including a cash shortage in 2008-2009, but was saved by a last-minute investment opportunity.
• 😀 Innovation at Argenx is not limited to just drug development; it extends to clinical trial design, patient interactions, and engagement with payers.
• 😀 Tim highlights the importance of data in driving decisions, and stresses that optionality (having multiple approaches) is crucial to handle the unexpected in biotech.
• 😀 In a competitive industry, Argenx focuses on ensuring its antibody molecules are best-in-class, making it difficult for competitors to surpass their work.
• 😀 The future of Argenx is driven by a commitment to advancing the science of autoimmunity and providing value to society, with a focus on patient impact and long-term innovation.

Q & A

What is the main focus of the biopharmaceutical company, argenx?

Argenx focuses on developing innovative therapies to address autoimmune diseases by targeting the source of autoimmunity rather than merely treating the symptoms.

What inspired Tim Van Hauwermeiren to become an entrepreneur in the biotech industry?

Tim's initial career started in consumer goods, but his drive to be close to entrepreneurs led him to move into biotech. He was eager to build new products and eventually co-founded argenx after meeting his co-founders who had a promising idea for creating fully human antibodies.

What challenges did argenx face in its early days?

In the early stages, argenx struggled with raising capital and was close to going out of business. The company faced financial hardships, including near-death experiences during the 2008-2009 financial crisis and again around 2016-17.

What was argenx’s initial business model?

Initially, argenx's business model was focused on providing a service for other companies by cracking difficult targets with its antibody platform. This later evolved into the company developing its own molecules and pursuing drug development.

How did argenx manage to overcome its early financial struggles?

Argenx relied heavily on its network, including investors who were genuinely interested in helping the company. A pivotal moment came when Tim received an invitation from an investor, who ultimately offered to buy 10% of the company, preventing it from shutting down.

What role does data play in drug development at argenx?

Data is the driving force at argenx. The company believes that no matter how appealing a pitch might be, data is what determines the future of drug development. It helps guide decision-making, allocate resources, and determine where to double down or stop.

What advice does Tim Van Hauwermeiren give to younger entrepreneurs?

Tim advises younger entrepreneurs to surround themselves with a personal advisory board of people who have been in similar situations. This allows for open and honest discussions that provide invaluable insights and patterns in feedback.

What does Tim think is essential for maintaining innovation at argenx?

Innovation at argenx is not limited to scientists in labs. It extends to clinical trial designs, patient interactions, and even how the company engages with payers. Everyone in the company is encouraged to innovate, not just those working on new molecules.

How does argenx maintain its competitive edge in the biotech industry?

Argenx focuses on creating best-in-class antibody molecules that are difficult for competitors to improve upon. By targeting novel and interesting pathways and de-risking these targets, they maintain an edge in the competitive biotech field.

How does Tim Van Hauwermeiren define the future success of argenx?

Tim views the future of argenx through the lens of societal impact. He believes that the real measure of success will be the value the company brings to patients with autoimmune diseases, as well as the ability to pioneer new science and innovations in autoimmunity.